MEMBER FORUM HIGHLIGHT -- Insurance Policy Proceeds

entities life insurance Mar 16, 2022

Q: I recently received the proceeds from an insurance policy – which entity should I use to hold the money: an LLC, estate account, or my personal account? 

A: As is often the case, the answer here is “it depends.”  It is most dependent on your wealth strategy, which you can formulate by leveraging the Wealth.GPS system to analyze, model and adjust your financial data. 

Continue Reading...

MEMBER FORUM HIGHLIGHT -- Life Insurance & Estate Taxes

Q:  Will my life insurance be subject to estate taxes? 

A: It depends – if you name your living trust as your beneficiary, then yes, they could be.  Then of course, the size of your estate will come into play as to whether they actually will be taxed.  Given this, you want to undergo proper planning to avoid having the insurance benefits taxed.

Continue Reading...

Life Insurance Explained: Life Insurance 101


Welcome to Life Insurance Explained, where I'll talk to you about insurance facts and provide an insurance 101 overview of the various types of life insurance you can buy, depending on your financial situation.

Some topics covered in this video:

- whole life insurance explained

- term life insurance explained

- universal life insurance explained

- variable universal life explained

Continue Reading...

Let's Get Insured!

Welcome to Insurance 101! In this video, I go over the various foundational insurance planning areas, and what kind of insurance you should be looking to integrate into your overall financial portfolio. I go in depth on what is financial risk management and how you should approach it.
Some of the areas covered in this video:
- life insurance explained
- disability insurance facts
- property and casualty insurance basics
- personal umbrella insurance
- health insurance explained
Continue Reading...

MEMBER FORUM HIGHLIGHT -- Should I Buy Life Insurance?

Check out this featured Q&A from our Member Forum!  Remember, for all Wealth.GPS users, the Member Forum is a powerful tool for sharing ideas, asking questions and generally getting support from like-minded individuals!
Q: I’m not sure if I should buy life insurance; what are some guidelines to deciding whether I should or not? 

A: As usual, check your wealth strategy first.  Does life insurance fit into it?  Do you need it for defensive planning purposes (something you will have analyzed as part of your overall wealth plan)?  Once you have that determined, you can look at the different types available. 
From a wealth accumulation standpoint, whole life insurance provides the most advantages.  First off, because it’s permanent (lasts for your “whole life”), premiums will never increase.  This is highly advantageous when considering the range of expenses that you’ll have to cover in...
Continue Reading...

50% Complete

Schedule a free, no obligation time to talk